Sensex, Nifty End Little Changed As Losses In ICICI Bank, M&M Offset Gains In TCS, RIL: Market Wrap
Intraday, the Nifty 50 rose 0.40% to 24,638.80, and the Sensex rose 0.36% to 80,475.90.
Indian benchmarks settled little change on Monday, while shares of Tata Consultancy Services Ltd., and Reliance Industries Ltd. rose.
The NSE Nifty 50 ended 31.50 points or 0.13% higher at 24,572.65, and the BSE Sensex settled 12.16 points or 0.02% lower at 80,424.68.
Intraday, the Nifty 50 rose 0.40% to 24,638.80, and the Sensex rose 0.36% to 80,475.90.
Today, the benchmark indices witnessed lackluster activity. The Nifty 50 ends 31 points higher while the Sensex was down 12 points. Among Sectors, Metal and Oil and Gas indices outperformed, both the indices rallied over 1.5% whereas intraday profit booking were seen in selective Auto stocks, said Shrikant Chouhan, head equity research, Kotak Securities.
On the daily chart, the Index has made a small red candle but the overall uptrend is intact and as per the range breakout, the approximate target comes to 24,870 with the downside being protected at 24,420, said Aditya Gaggar, director, Progressive Shares.
Tata Consultancy Services Ltd., Reliance Industries Ltd., Tata Steel Ltd., Hindalco Industries Ltd., and Shriram Finance Ltd. added to the benchmark index.
ICICI Bank Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd., Bharti Airtel Ltd., and Tata Motors Ltd. weighed on the benchmark index.
On NSE, nine sectors advanced, and three declined out of 12. The NSE Nifty Metal rose the most, and the NSE Nifty Auto declined the most.
Broader indices outperformed. BSE Midcap ended 0.53% higher and BSE Smallcap gained 1.3%.
Three out of 20 sectoral indices on the BSE ended lower and 17 advanced. BSE Auto fell the most and BSE Metal was the top gainer.
Market breadth was skewed in the favour of buyers. As many as 2,702 stocks advanced, 1,321 fell, and 136 remained unchanged on the BSE.
